Industry News

September 20, 2011

State Lands Commission Audited

An audit of the State Lands Commission by the state auditor claims the commission’s ineffectiveness cost the state millions in lost revenue. The commission is in charge of oil and gas leases on state lands and other leases of state property to private parties. The audit states the commission failed to collect rent on past due leases and to renew leases that expired. The report estimated the revenue loss as high as $8.2 million. The commission has responded that it intends to implement recommendations of the auditor.